I was joined yet again by Economist and former member of the Reserve Bank of Zimbabwe’s Monetary Policy Committee Eddie Cross to talk about financing a nation, tax collection and administration as well as electronic transactions You can play or download the podcast with the link below. Alternatively, you can download the podcast on WhatsApp […]
The Reserve Bank of Zimbabwe (RBZ) has announced the introduction of the ZWL $50 (fifty dollar) note into circulation. “The Reserve Bank of Zimbabwe (the Bank) wishes to advise the public that the ZW $50 (fifty dollar) banknote issued on 6 July 2021 through Statutory Instrument 196 of 2021 will be introduced into circulation on […]
The Ministry of Finance has warned the public of a fake email that has been circulating inviting local entrepreneurs to apply for financial aid as part of a COVID -19 recovery program. The statement from the Ministry of Finance reads as follows: The Ministry of Finance and Economic Development has noted with grave concern, some […]
Deputy Minister for Finance, Clemence Chiduwa said in Parliament that the Zim dollar (ZWL$) is accepted regionally and internationally according to a report by OpenParly. The issue of the convertibility and regional or international acceptance of our currency as we speak now, the Zimbabwean Dollar is accepted regionally and internationally through the exchange rate. Not […]
Earlier this week, Minister for Finance Mthuli Ncube said that Zimbabwe had a budget surplus of ZWL$9.8 billion in Q1 of 2021. A budget surplus is essentially the government making more money from income like taxes and the likes than it is spending. Now there are many ways to interpret this especially with COVID-19 being […]
This time last week we got the news that the government had issued Statutory Instrument 127 of 2021. In SI 127 are a raft of new measures that govern the rules of forex in the country not only for those participating in RBZ’s Forex Auction but for the nation at large. And as I am […]
Banking software is only part of the reason…
It had already begun…
Minister for Finance Mthuli Ncube has appointed a new Monetary Policy Committee which replace the one that was shut down at the end of January
After spending months locked down and returning to low business the informal sector now has to contend with a government shakedown.
The Tax Relief measures in the 2021 National Budget didn’t go far enough as Zimbabweans are struggling to survive because of the COVID19 pandemic .
Minister for Finance Mthuli Ncube has delivered the 2021 National Budget which will be running under the recently launch NDS1 recovery plan.
Minister for Finance Mthuli Ncube delivered a report on the Progress on Economic and Structural Reforms in Zimbabwe. The presentation shows the effects of the measures taken by the Finance Ministry and the Government as they try to manage Zimbabwe’s economic situation. The presentation looks at: Vision 2030 The Transitional Stabilisation Program (TSP) Economic and […]
The Finance Ministry, on Thursday last week published the mid-year budget review, in this they outlined the “progress” the country has made over the past six months. The more interesting part of that were the proposals set forward by the Minister. Some of these measures were aimed at mitigating the financial woes Zimbabweans are currently […]
The Zimbabwe National Statistics Agency (ZIMSTAT) has closed down operations after employees tested positive for the Coronavirus. This shut down means that their scheduled training programs which were to be held this week (20th to the 25th of July) have been called off. On the 18th of July ZIMSTAT ordered its staff not to come […]
On 12 November, the Ministry of Finance published a bill titled ‘Financial Adjustement Bill’ which seeks for parliament to waive off massive overspending by the government since 2015. As they usually do, Veritas have broken down this issue in a very easy to understand way: Investigations by the Auditor-General and Parliament’s Committee on Public Accounts […]
Looks like managing public and media perception is a key priority for Mthuli Ncube. Towards the end of 2018, the minister of Finance hired Acie Lumumba (yes the controversial guy) to be Chairman of a ‘communications task force.’ There was obviously much outcry and ridicule in near equal measure. Lumumba barely lasted 24 hours in […]
Capitalk 100.4FM, a local talk radio station, recently hosted Patrick Chinamasa, the Minister of Finance and Economic development. During the talk show, Ruvheneko Parirenyatwa, a Zimbabwean radio personality, interviewed the Minister in order to get some answers to the question is Zimbabwe financially beyond repair? The talk show which was aired on Capitalk 100.4FM was […]
Zimbabwe’s Ministry of Health and Child Care has delayed the implementation of a health levy which was meant to be effected on all airtime purchases. According to Newsday, this was recently revealed to the Parliamentary Committee on Health by the acting Health and Child Care ministry permanent secretary, Robert Madyiradima. He explained how the Ministry of Finance […]
Zimbabwe’s internet penetration rate stalls at 50.1%. Will government intervene to trigger a new growth surge?
Zimbabwe’ internet penetration rate – a measure of the percentage of the population that connects to the internet – has been registered at 50.1%. According to recent figures shared by the telecoms regulator, POTRAZ, at the end of the third quarter of 2016 (September 2016), 6,732,470 connections were recorded from all internet providers in the country, […]
Here are three examples of how the Government’s reversal of Chinamasa’s policy will affect technology
Zimbabwe’s Minister of Finance, Patrick Chinamasa recently shared the 2016 Mid-Year Fiscal Policy Review Statement which outlined the State’s financial priorities. The statement included Chinamasa’s recommendations to limit government’s expenditure on salaries for the civil service which currently gobble up 97% of the national budget. This was supposed to be achieved through the suspension of bonuses and […]
Zimbabwe’s Ministry of Finance and Economic Development has proposed to suspend the customs duty on Point of Sale (POS) machines as part of measures that will encourage the use of electronic payments.
Here’s a copy of Zimbabwe’s 2016 Mid-Year Fiscal Policy Review Statement.
Zimbabwe recorded $387.9 million in diaspora inflows during the first 6 months of 2016, representing a 15% decline in remittances from the $457.8 million registered in the first half of 2015.
The Zimbabwean government will dip into the Universal Services Fund to access finances for the yet to be completed digital migration project.
The suggestion of a WhatsApp ban is shocking, especially when we consider how it has made communication so much easier and cheaper. However, the latest numbers from the industry regulator suggest that its effect is huge on revenue and if the operators make that call, our favourite app could be banned.
Yesterday the minister of Finance presented the 2015 Zimbabwe National Budget, a document that ideally is a huge focus for everyone, especially individuals involved in business and entrepreneurship or keen on it. Out of the acres of details on the state of the Zimbabwean economy and the areas that our $4.2 billion budget is being […]
According to Consumerizim, a local consumer e-activism website, the Zimbabwe ministry of finance website www.zimtreasury.org was hacked yesterday. The website was apparently hacked by a group of hackers calling themselves Abs0lution. The site has since been taken down.